This week, the domestic propane market continued to rise, the power was insufficient, and the price fell significantly. Most of the Shandong market fell back below 7000 yuan / ton. According to the data monitoring of business agency, the average price of propane in Shandong market was 7163.25 yuan / ton on March 6 and 7438.25 yuan / ton on March 14. The decline rate in the week was 3.32%, an increase of 62.93% compared with the same period last year.

As of March 14, the mainstream prices of propane in different regions in China are as follows:

region . March 14th

East China . 6850-7350 yuan / ton

North China 6800-7200 yuan / ton

Shandong region . 6850-7000 yuan / ton

Northeast China . 6900-7000 yuan / ton

This week, the domestic propane Market as a whole showed a rising and falling trend. The decline of Shandong propane market was greater than the increase, and most of the prices fell back below 7000 yuan / ton. Driven by the rise of international crude oil in the early part of the week, Shandong propane market continued to rise, mainly upward. In the late part of the week, the international crude oil fell significantly, with a bad market mentality, coupled with the obvious resistance of the downstream to high prices, poor enthusiasm for entering the market, weak market trading atmosphere, blocked manufacturers’ shipments and obvious price drop.

Saudi Aramco announced in March 2022 that both propylene and butane increased. Propane was 895 dollars / ton, an increase of 120 dollars / ton over the previous month; Butane 920 US dollars / ton, up 145 US dollars / ton compared with the previous month.

On the whole, the current international crude oil continues to fluctuate, which brings limited support to the market. The lower reaches have limited ability to accept high prices, are cautious and wait-and-see, while the southern and northern markets are dominated by weakness. It is expected that the price of propane market may still fall in the short term.